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The perfect storm is coming with inflation on top of this

SW0320SW0320 Member Posts: 2,066 ✭✭✭✭

The share of subprime credit cards and personal loans that are at least 60 days late is rising faster than normal, according to credit-reporting firm Equifax Inc. In March, those delinquencies rose month over month for the eighth time in a row, nearing their prepandemic levels.

Delinquencies on subprime car loans and leases hit an all-time high in February, based on Equifax’s tracking that goes back to 2007.

This is per the WSJ today.

I would not buy anything right now. With the above and the stock market plunge, I expect there will be a lot of cars/boats you name it for sale shortly.

Comments

  • Ricci.WrightRicci.Wright Member Posts: 4,807 ✭✭✭✭

    NO!! I deserve a $70,000.00 pickup. And I can finance it for eight years, so the payments aren't that much. And my buddy tom has one. People are crazy. I remember the dot com bust. Lots of cool toys for sale.

  • Floyd621Floyd621 Member Posts: 1,767 ✭✭✭✭

    Yepp... Waiting...

  • BobJudyBobJudy Member Posts: 5,587 ✭✭✭✭

    Anyone who buys on credit right now may be sorry when in the near future they have to choose between groceries or a car payment. I'm afraid this is going to be a long bumpy ride until we see some improvement.

    Strangely enough, I just read a news article about some democrat political advisors insisting that the dems will win their elections by telling everyone how great the economy is under good old geriatric Joe. I'll bet that at least half of the dem voters won't fall for that. The other half are either too stupid to figure it out or brainwashed totally by the liberal cult. Yes, I said cult because they believe in their dem politicians just like the folks in Jonestown believed in their leader, and we know how that turned out. Bob

  • Ricci.WrightRicci.Wright Member Posts: 4,807 ✭✭✭✭

    Poverty is good my children. Don't forget the free Kool-Aid at the back of the tent.

  • pwilliepwillie Member Posts: 20,254 ✭✭✭

    Hey guys,how many of tyhe old guard left?...I keep in touch with some on FB...been awhile since I posted..Thanks for any reply. PWILLIE

  • yoshmysteryoshmyster Member Posts: 19,954 ✭✭✭

    Wow. If 2008 happened again today with the 10% inflation would they actually call it "depression" and not "recession"?

  • BrookwoodBrookwood Member, Moderator Posts: 11,745 ******

    I can see where a car salesman can supplement his dwindling income by becoming a repo-man in his evening off hours.


    Sorry for my politically incorrectness...... "Repo-Person" or "Repo-Specialist" (green font)

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